By Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone (eds.)
This moment ebook on monetary and monetary simulations in Swarm marks the ongoing development by way of a bunch of researchers to include agent-based machine versions as a huge instrument inside their disci pline. it truly is encouraging to determine one of these transparent instance of Swarm assisting to foster a group of clients who depend upon the Swarm framework for his or her personal analyses. Swarm goals at legitimizing agent-based computing device types as a device for the research of advanced structures. another aim is universal base framework will bring about the expansion of consumer groups in particular components of software. through offering an organizing framework to steer the advance of extra problem-specific buildings, and through facing a complete diversity of concerns that have an effect on their primary correctness and their skill to be built and reused, Swarm has sought to make using agent-based versions a valid device of clinical research that still meets the sensible wishes of investigators inside a community.
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Extra resources for Agent-Based Methods in Economics and Finance: Simulations in Swarm
Agents presented with a borrowing request, divide their money holdings equally among all agents requesting to borrow. The investment may generate a profit, and this profit is divided among the sources of the financing (members of the borrowLink). Finally agents must get back the money they "invested" in members of their investLink. The model is developed by a pleaded non-economist, and for an economist the model is not very intuitive. There are a number of questions to be posed; why do agent engage in this double-lending process - why not keep the income until borrowing requests are made?
The population is composed of three different types of agents; honest taxpayers, imitative taxpayers and free rider taxpayers, and the relative weight of the three types is determined by their fitness through a genetic algorithm. The question to be answered is what effect can be expected from an increase in the tax rate. Agents derive utility from an externally determined income and from the consumption of a public good and dis-utility from the payment of taxes. Some agents (honest), furthermore, derive utility from being honest, other agents (imitative) derive utility from being close to the average, whereas the last group (free riders) derives utility from not paying taxes.
The division between ModelSwarm and ObserverSwarm and Swarms support of hierarchical modeling are examples of design reuse. But apart from these optional structures, Swarm is not characterized by a predefined organizational structure and the focus is on component reuse. Since frameworks will move the focus from the actual source code to the software design or architecture, it becomes just as important to have good tools for software design as it is to have good programming languages. In the present work, the Unified Modeling Language (UML) is used.
Agent-Based Methods in Economics and Finance: Simulations in Swarm by Charlotte Bruun (auth.), Francesco Luna, Alessandro Perrone (eds.)